Interpublic Group of Companies (NYSE:IPG) PT Lowered to $32.00

Interpublic Group of Companies (NYSE:IPG - Free Report) had its target price reduced by Barclays from $32.50 to $32.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the business services provider's stock.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. BNP Paribas downgraded Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a research report on Monday, September 30th. Bank of America reduced their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, September 5th. Morgan Stanley downgraded Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, UBS Group downgraded Interpublic Group of Companies from a "neutral" rating to a "sell" rating and cut their price objective for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $31.75.

Interpublic Group of Companies Stock Performance

IPG stock traded up $0.26 on Wednesday, hitting $30.04. The company had a trading volume of 6,388,956 shares, compared to its average volume of 3,947,035. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. Interpublic Group of Companies has a 12-month low of $27.54 and a 12-month high of $35.17. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 5.18 and a beta of 1.09. The stock's 50-day simple moving average is $31.39 and its 200 day simple moving average is $30.75.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.70. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company's revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. As a group, equities research analysts expect that Interpublic Group of Companies will post 2.83 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.39%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 46.98%.

Hedge Funds Weigh In On Interpublic Group of Companies

Several hedge funds have recently modified their holdings of the stock. Benjamin Edwards Inc. lifted its stake in Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider's stock worth $26,000 after purchasing an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider's stock worth $30,000 after purchasing an additional 900 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its stake in Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider's stock valued at $38,000 after buying an additional 405 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Interpublic Group of Companies during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.